Egged Shareholders sell 18% Stake to Keystone for NI 850m
Egged, Israel’s largest public transport operator, is exercising the option to sell an 18% stake to Keystone Fund for approximately NIS 850 million.
After extensive litigation-driven negotiations, the total price was reduced by NIS 150 million, and Keystone provided an advance payment of NIS 180 million. The amended agreement also included the cancellation of the remaining indemnification period and a full settlement of outstanding indemnification claims.
The transaction builds on the 2022 sale of a 60% stake in Egged, valued at NIS 5 billion, which granted shareholders options to sell the remaining 40% in two stages.
Erdinast, Ben Nathan, Toledano represented the Egged shareholders in the deal – handled by Doni Toledano, Lior Oren, Assaf Meltz, and Almog Gil from EBN’s Commercial department, with support from Ran Sprinzak, Gil Levkowitz, and Alice Wiensko of the Litigation team.
